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I have a client who was in the peace corp for 2 weeks in 2008 and rec'd a w2 for 290.32 wages. I have never done one with the peace corp wages but I do know that he rec'd stipends for rent/expenses in foreign currency when he was there in exchange for training and teaching he provided. Should this foreign currency be added as taxable income and how do I figure the dollar amount?

Thanks

Posted

I have a client who was in the peace corp for 2 weeks in 2008 and rec'd a w2 for 290.32 wages. I have never done one with the peace corp wages but I do know that he rec'd stipends for rent/expenses in foreign currency when he was there in exchange for training and teaching he provided. Should this foreign currency be added as taxable income and how do I figure the dollar amount?

Thanks

I have no experience with whether the stipends are taxable, but here's a link to a currency converter site:

http://www.xe.com/ucc/convert.cgi

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